Home Insurance Saskatoon: Rates, Quotes, Consumer Tips

Home Insurance Saskatoon: Intro

Welcome to your Home Insurance Guide for Saskatoon. This page will inform you about savings opportunities and also provide number of other useful tips for choosing Home Insurance protection in Saskatoon.

Overall Saskatchewan does not represent a huge risk from home insurance perspective since there are no earthquakes (unlike in some regions of British Columbia) or massive registered floodings (unlike in some regions of Alberta or Ontario). Very cold winters though increase somewhat a danger of frozen infrastructure (e.g. plumbing in winter).

What Are Typical Home Insurance Premiums?

This chart illustrates the average Renters and Homeowners Insurance premiums across Canada and in several provinces. Renters insurance rates are typically lower than home owners premiums due to the nature of insurance: Renters insurance typically covers only the content of your rented property and sometimes liability. It does not cover the building itself since it is covered under the insurance property of the homeowner.

How Can You Save on Home Insurance in Saskatoon?

Professional Memberships: Are you a member of a professional organization such as Certified Management Accountants of Canada? Some companies offer discounts to professional members, and some organizations offer their members insurance policies.

Annual vs. monthly payments: Annual payments save insurers administrative costs such as time, postage and billing. Therefore, you are rewarded with lower premiums.

Bundle: Most companies offer a discount if you bundle polices, such as home and auto.

Wood stoves: Wood stoves increase your risk and could subject you to higher premiums and an inspection.

Wiring: Not all wiring is created equal. Make sure you have approved wiring and be sure to avoid aluminum wiring, which can be very expensive to insure. Not all insurers will cover houses with aluminum wiring, and those that do usually require a full electrical inspection of the house.

Renovations: Renovating your house can result in lower home insurance premiums, as home insurance premiums for older, poorly maintained homes are usually higher. Also, updating only parts of your house, such as the basement or kitchen, may lead to savings on your insurance.

Monitoring: Is there other security like a doorman or security guard on the premises? This may mean an additional discount.

Plumbing insulation: Insulate your pipes to prevent them from freezing in the winter. This may reduce or even avoid insurance claims.

Neighbourhood: For your personal safety and possible lower premiums, live in a low-crime, safe neighbourhood.

Mortgage insurance: Do you have life insurance? If so, you may have enough coverage to forgo mortgage insurance. Mortgage insurance is another name for a life/critical illness and disability insurance that pays off your outstanding debt on your home in case of a tragic event. For example, a term life policy large enough to pay off your home is usually cheaper.

Credit score: Your good credit can score you a lower premium. This is because most companies use your credit score when calculating home insurance premiums.

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